Three companies contribute TK 74m to Workers’ Welfare Fund

Three public and private companies on Wednesday contributed a total of TK 74 million as part of their respective profits to the Bangladesh Workers’ Welfare Foundation Fund.

Karnaphuli Fertilizer Company Limited (KAFCO) handed over check worth Tk 55.76 million, Nestle Bangladesh TK 17.49 million and Heidelberg Cement Bangladesh Limited Tk .89 million to the Fund from their last year’s profit, according to a labour ministry statement.

Industries Secretary and KAFCO Chairman KM Ali Azam, corporate affairs director at Nestle Naquib Uddin Khan and legal executive at Heidelberg Cement Mostafa Galib on behalf of their respective companies handed over the checks to State Minister for Labour Begum Monnujan Sufian, it added.

Labour Secretary KM Abdus Salam and Director General of the Fund Mollah Jalal Uddin, among others, were present at the check handover ceremony.

Under the amended labour law, profit-earning companies have to contribute five per cent of their net profits to their participatory welfare funds as well as the government-formed workers’ welfare fund. The ratio of the contribution is 80:10:10 respectively.

Till date, a total of 173 companies contributed about TK 4.85 billion to the fund, the statement added.